Wells Fargo Launches Revamped Propel Rewards Card

Wells Fargo announced Monday (June 25) an overhaul of its Propel Card, its no-annual-fee rewards cards.

In a press release, Wells Fargo said the rewards card has a $0 annual fee and gives credit cardholders three times the rewards on eating out and ordering in, travel and transit, and streaming services, as well as one times the rewards on other purchases. What’s more, customers don’t pay a fee for currency conversions and access to exclusive presale tickets, offers and other protections from American Express (Amex).

The credit card also has no limits on points that customers can earn and no point expiration as long as the credit card is open. New customers to the Propel Card earn 30,000 bonus points, which is the equivalent to $300 cash redemption value after spending $3,000 in the first three months. The card will be accepting applications in July, Wells Fargo said.

Bev Anderson, head of Wells Fargo Cards and Retail Services, said in the press release, “We are listening to consumers to better understand and serve their needs holistically, and have heard directly from them on what they want most in a credit card. Based on that feedback, we are excited to offer one of the richest rewards credit cards in the industry, for no annual fee. With triple points on most of what consumers do every day, the new Propel Card complements their lifestyles — whether they are commuting to work or planning a summer vacation, whether they’re downloading a favorite TV series to binge watch or having dinner out with friends. Wells Fargo is recommitted to fulfilling our customers’ needs by providing strong, experiential value through the new Propel Card, our best rewards card, for consumers who live their lives to the fullest and desire a credit card that rewards them for it.”

Wells Fargo said the Propel Card will be accepted at merchants that accept American Express. Through Amex, Propel cardholders will also have access to millions of presale tickets for concerts, sporting events, Broadway shows and everyday discounts on travel, restaurants and retailers across the globe. Existing Wells Fargo American Express Propel cardholders are automatically converted to receive the new Propel benefits, the bank said in the press release.